September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in the repo market rose to almost 10 percent, well above the Fed’s target rate.The New York Fed claimed its intervention was a temporary measure, but it has not stopped pumping money into the repo market...

As a social, cultural, and medical episode about a virus becomes more surreal each day, Congress passed a law to spend massive amounts of money the federal government does not have to assist a badly damaged economy the government itself caused -- along with mass media -- by their frantic, fear-generating publicity that emboldened state governors and local mayors to illegally give orders to restrict and shut down the very movement of people and their participation in personal, family,...

Amidst the coronavirus lockdown, some of the claims of governments and media have been shown to be exaggerated. Ten years ago, they tried the same thing with swine flu. They haven’t learned their lessons — has the public? On Wednesday, RT picked apart the sensationalist mortality rates that media and governments have been using to terrify the public. These figures are the product of some transparently weak statistics, and cast the true threat from Covid-19 into doubt. There is a saying among...

“Thank God for the Deep State,” declared former acting CIA chief John McLaughlin while appearing on a panel at the National Press Club last October. In 2018, the New York Times asserted that Trump’s use of the term “Deep State” and similar rhetoric “fanned fears that he is eroding public trust in institutions, undermining the idea of objective truth and sowing widespread suspicions about the government and news media.” But barely a year later, the Deep State had gone from a figment of paranoid...

Last week, Newsweek published a report entitled “Inside The Military’s Top Secret Plans If Coronavirus Cripples the Government,” which offers vague descriptions of different military plans that could be put into effect if the civilian government were to be largely incapacitated, with a focus on the potential of the current novel coronavirus (COVID-19) pandemic to result in such a scenario. The article’s author, William Arkin, largely frames these plans as new, though — buried deep within the...

I’m not worried about the guy coughing next to me. I’m worried about the ones who seem to be looking for Jim Jones. Jones was the charismatic founder of the cult-like People’s Temple. Through fear-based control, he took his followers’ money and ran their lives. He isolated them in Guyana where he convinced over 900 of them to commit suicide by drinking cyanide-laced grape Kool Aid. Frightened people can be made to do anything. They just need a Jim Jones. So it is more than a little scary that...

“That was when they suspended the Constitution. They said it would be temporary. There wasn’t even any rioting in the streets. People stayed home at night, watching television, looking for some direction. There wasn’t even an enemy you could put your finger on.”― Margaret Atwood, The Handmaid’s Tale You can always count on the government to take advantage of a crisis, legitimate or manufactured. This coronavirus pandemic is no exception. Not only are the federal and state governments...

There are few things in this life that make me more sick to my stomach than watching Secretary of State Mike Pompeo talking. He truly is one of the evilest men I’ve ever had the displeasure of covering. Into the insanity of the over-reaction to the COVID-19 outbreak, Pompeo wasted no time ramping up sanctions on firms doing any business with Iran, one of the countries worse-hit by this virus to date. It’s a seemingly endless refrain, everyday, more sanctions on Chinese, Swiss and South African...

Jon Utley saved my life. While I hadn’t literally fallen into a well and had him pull me out, in a figurative sense that is exactly what he did. Having just spent most of the 1990s living and working abroad in Hungary, I found myself back in Washington, DC, in a well-known neoconservative think tank. It’s a long story, but much of that strange situation had to do with a combination of disorientation and lack of political contacts after so long overseas. As anyone in those DC circles would...

Do we really think “it can’t happen here” in America? Could we quarantine the constitution? Are we doing it already? Panics from pandemics unleash unchecked governmental power. The very premise of popular films like V for Vendetta reveal this: a group uses a virus to seize power and create a totalitarian society. Anyone could witness this from far-off lands, watching the news about China locking people up in their own homes and then removing them screaming from those homes whenever the state...

Last Monday, a bipartisan group of Senators and a coalition including libertarian and progressive activists thwarted a scheme to ram through the Senate legislation renewing three provisions of the USA FREEDOM Act (previously known as the USA PATRIOT Act). The bill had already been rushed through the House of Representatives, and most expected it to sail through the Senate. But, instead, Senate leadership had to settle for a 77-day extension.Senate leadership was also forced to allow...

Would you consider the shutting down of an entire national economy for a disease such as the Black Death, which between 1347-1351 killed an estimated 60 percent of the population in the areas where it spread, to be a proportionate response? What about for a virus which carries — at the very most (see below) — a mortality rate of 1.4 percent for those who contract it? Such decisions should be weighed in the balances. In the left-hand side, there is the number of people who could die from the...

What happens when governments confuse worst-case scenarios with reality? They transform a health crisis into a social crisis and an economic tsunami, with consequences more severe than the virus could produce in the first place. As I write, hundreds of thousands of people across Europe and the world have already lost their jobs, in the leisure and entertainment sectors in particular. As sector after sector is impacted by global lockdowns, mass unemployment is not a possibility, it is definite....

Governments all over the world are using the alleged threat of a COVID-19 pandemic to shut down the world’s economy. Daniel Lacalle, an authority on energy economics, writes: “The decision to shut down air travel and close all nonessential businesses is now a reality in major global economies. The United States has banned all European flights as Italy enters a complete lockdown, Spain declares a state of emergency, and France closes all nonessential public places and businesses.” Further, he...

The administration of President Donald Trump may escape the most recent conflict with Iran without war, however, a dangerous escalation is just over the horizon. And as before, the key factors driving the belligerence are not outraged Iraqi militia leaders or their allies in Iran, but Trump’s secretary of state, Mike Pompeo, and Israeli Prime Minister Benjamin Netanyahu, who has long sought to draw the US into a military confrontation with Iran.  Throughout the fall of 2019, Netanyahu ordered...